Jury Finds In Favor Of SEC In CEO Fraud Case

Law360 (November 19, 2007, 12:00 AM EST) -- A U.S. Securities and Exchange Commission enforcement procedure that has stretched over four years and made it all the way to a jury verdict has ended in favor of the agency.

In a verdict reached on Friday, a jury in the U.S. District Court for the District of Massachusetts found that Brian Adley, former CEO of transportation-leasing equipment company Chancellor Corp., should be held liable for fraudulent accounting and using fraudulent accounting.

The jury determined that Adley had violated anti-fraud and record keeping provisions of federal...

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